Final Trade: Sensex rises 521 pts, Nifty closes at 24,329; IT leads rally

The bulls kept control on Dalal Street through the day as the Sensex settled 521 points higher at 80,116, while the Nifty closed above the crucial 24,329. This sharp upmove came on the back of easing US-China trade jitters and strong earnings from frontline IT and energy counters.

Tech stocks lit up the screen, global cues added the fuel

Market sentiment got a boost after US President Donald Trump hinted at reducing tariffs on Chinese imports, which lifted risk appetite globally. The IT pack led the rally at home, with the Nifty IT index soaring over 2.3 per cent.

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HCL Tech was the day’s top gainer, spiking nearly 6 per cent post its better-than-expected Q4 results. Midcap tech firm Cyient DLM hogged the limelight with a 12 per cent surge after a 36 per cent jump in Q4 profit. Waaree Energies climbed 9 per cent after posting a robust 34 per cent YoY growth in Q4 PAT.

However, Havells lost 5 per cent on weak demand outlook, standing out as the sole laggard in an otherwise buoyant session.

Across-the-board rally; global markets mirror the mood

All 13 Nifty sectoral indices ended in the green, with buying seen in IT, FMCG, Auto, and Financials. Broader markets outperformed, with the Nifty Midcap 100 and Smallcap 100 indices gaining over 1.5 per cent each.

Global markets mirrored the positive sentiment. Japan’s Topix gained 2 per cent, Hang Seng rallied 2.4 per cent, and Euro Stoxx 50 futures were up 1.6 per cent, tracking gains in Wall Street futures.

IPO buzz

Meanwhile, EV maker Ather Energy announced its IPO price band at Rs 304-321 per share. The street is keenly watching investor response, especially after the strong listing of other EV players.

Closing snapshot

Sensex: 80,081 (+475 pts)
Nifty 50: 24,359 (+140 pts)
Top gainers: HCL Tech, Cyient DLM, Waaree Energies
Top loser: Havells
Global cheer: S&P 500 futures +1.6%, Hang Seng +2.4%